Social Security checks began to be issued in1920 1930 1940 1950 Social Security payments

Social Security checks began to be issued in1920 1930 1940 1950 Social Security payments

Social Security checks began to be issued in:

A. 1920.

B. 1930.

C. 1940.

D. 1950.

82.Social Security payments:

A. were not indexed to adjust for inflation until 1940.

B. were not indexed to adjust for inflation until 1968.

C. were not indexed to adjust for inflation until 1975.

D. were not indexed to adjust for inflation until 1980.

83.Social Security payments:

A. were not originally adjusted for inflation, causing the real value to retirees to increase over time.

B. were not originally adjusted for inflation, causing the real value to retirees to decrease over time.

C. were originally adjusted for inflation, causing the real value to retirees to increase over time.

D. were originally adjusted for inflation, causing the real value to retirees to decrease over time.

84.When Social Security checks were first issued:

A. the nominal amount stayed the same for the life of the payments.

B. the nominal amount was regularly increased by 5 percent every 3 months.

C. the nominal amount was regularly increased by 10 percent every 3 years.

D. the nominal amount was regularly increased by 3 percent every 5 years.

85.Until Congress began to periodically raise benefit levels to adjust for inflation, the first recipients of Social Security checks:

A. lost value over time, because the payments were not adjusted for inflation.

B. received a fixed amount that caused their real income to decline.

C. grew poorer over time, because the payments were nominal amounts.

D. All of these statements are true.

86.Social Security payments:

A. began to be indexed to inflation in 1975.

B. are now indexed using the CPI.

C. are adjusted using COLAs.

D. All of these statements are true.

87.Social Security payments:

A. now hold their value over time.

B. are adjusted for inflation using the CPI.

C. undergo cost-of-living adjustments.

D. All of these statements are true.

88.Social Security payments:

A. continue to cause the elderly to lose income over time, since payments are not adjusted for inflation.

B. cause concern for Congress, due to the increase in life expectancies.

C. now hold their real value.

D. None of these statements is true.

89.Now that Social Security payments are indexed:

A. the nominal value is adjusted to maintain a constant real value.

B. the real value is adjusted to maintain a constant nominal value.

C. the payments are adjusted so retirees can buy more with their payments over time.

D. the payments are not adjusted enough, so retirees can buy less with their payments over time.

90.Indexing Social Security payments is done using:

A. the CPI.

B. the PPI.

C. the GDP deflator.

D. the RPI.